XML 55 R40.htm IDEA: XBRL DOCUMENT v3.6.0.2
Commitments and Contingencies (Tables)
12 Months Ended
Dec. 31, 2016
Commitments and Contingencies  
Schedule of minimum future rental payments under operating leases

At December 31, 2016, minimum future rental payment for the next five years and thereafter are as follows (dollars in millions):

 

 

 

Ground Leases

 

Ground Leases

 

 

 

 

 

Paid by

 

Paid by

 

 

 

 

 

Realty Income (1)

 

Our Tenants (2)

 

Total

 

2017

 

$

1.6

 

$

13.4

 

$

15.0

 

2018

 

1.6

 

13.5

 

15.1

 

2019

 

1.5

 

13.3

 

14.8

 

2020

 

1.4

 

13.1

 

14.5

 

2021

 

1.2

 

12.8

 

14.0

 

Thereafter

 

22.1

 

106.6

 

128.7

 

Total

 

$

29.4

 

$

172.7

 

$

202.1

 

 

(1)

Realty Income currently pays the ground lessors directly for the rent under the ground leases.

(2)

Our tenants, who are generally sub-tenants under the ground leases, are responsible for paying the rent under these ground leases. In the event a tenant fails to pay the ground lease rent, we are primarily responsible.